Bitcoin briefly touches $85,598 as October hike bets ease
Bitcoin rose and briefly reached $85,598 after traders reduced expectations for another Federal Reserve rate hike in October following softer PCE data.
Bitcoin got a macro-flavored boost on September 30, briefly touching $85,598 as traders sharply cut their bets on another Federal Reserve rate hike in October. The main catalyst was August's Personal Consumption Expenditures data, the Fed's preferred inflation gauge. Core PCE, which strips out vol…